Mr. Randy Koroll reports

STAR NAVIGATION CHARTS A STRATEGIC COURSE INTO THE FUTURE WITH A FOCUS ON GENERATIVE AI

Star Navigation Systems Group Ltd. has made a visionary shift in the trajectory of the company, embracing the transformative power of generative artificial intelligence (AI). This strategic move, approved by the Company's Board of Directors, now helps position Star at the forefront of innovation leading to advances in it's STAR-A.D.S.(TM) System, as well as opening new global vertical markets for exponential growth using AI technology.

Mr. Gary Panaich, Chairman of the Board, emphasizes, "Our commitment to harnessing advanced technologies demonstrates our dedication to elevating our competitive standing and shaping the landscape of new market opportunities. By prioritizing AI, Star aims to unlock opportunities for innovation, efficiency, and lasting value creation for our shareholders."

As indicated by Next Move Strategy Consulting, the global AI Market, valued at $95 Billion USD in 2021, is projected to reach nearly $2 Trillion USD by 2030, with a robust CAGR of 32.9% from 2022 to 2030.

Generative AI, renowned for its autonomous content creation, problem-solving capabilities, and adaptability to dynamic environments, seamlessly aligns with Star's vision for the future. The Company recognizes Generative AI's potential to revolutionize client and brand interactions, propelling Star into a leadership position and therefore becoming a driver for increased growth.

In line with this strategic shift, Star will allocate resources to research and development initiatives focused on advancing Generative AI technologies. This shift will not only strengthen the company's internal capabilities but also foster collaborations with key players in the dynamic Metaverse ecosystem.

"We firmly believe that Generative AI is a transformative force that will redefine our existing operations as well within new industries. This strategic transition is a testament to our commitment to innovation and our unwavering pursuit of excellence," Mr. Panaich affirmed.

Star's aviation division will continue to focus on the marketing and sales activities of its main product line, the STAR-A.D.S.(TM) System.

About Star Navigation Systems - www.star-navigation.com

Star Navigation Systems Group Ltd. manufactures the In-flight Safety Monitoring System, STAR-ISMS(TM), the heart of the STAR-A.D.S.(TM) System. The STAR-A.D.S.(TM) System has real-time capability of tracking, performance trends and predicting incident-occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator.

Star's MMI Division (Military and Defence) designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.

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